Separate companies

Richard asks:
(updated on Tuesday, November 01st 2011)

We have two investment properties with ASB which were set up under an LAQC many years ago and are now assigned as an LTC. They are security for each other as ASB would not do it any other way. We are locked in until early 2014 with low fixed interest rates. The two properties cost us about $200 per month. One can be developed further as it is on a 809 sq mtr section with a two bdrm house on it. My partner and I as 50/50 share holders. We are now buying more properties and have cash for the individual deposits on property three. A cash deposit for property four is with BNZ. Our new property ownership set up is a QC with 50/50 share split again and will be cash flow positive. Is there anything I should be wary of with our current structure? Together we earn in excess of $250k so I want to know that we are doing the best we can with what we have. Does our current structure represent the best structure for us.